PROJECT REPORT

ON
STUDY OF MICRO MARKET
OF
ICICI BANK

Submitted to
Chitkara Business School

in partial fulfillment of the requirement for the award of degree of

Masters of Business Administration

Submitted by: Supervised by:

Abhishek Jain Dr. Jasleen Kaur

2020982503 (Assistant Professor)
MBA (Finance & Banking)

CHITKARA BUSINESS SCHOOL

CHITKARA UNIVERSITY (2020-2022)
Chandigarh-Patiala Highway (Rajpura)
 DECLARATION

I Abhishek Jain, hereby declare that the work presented here in is genuine work done by me
and has not been published or submitted elsewhere. Any literature, data or work done by
others and cited in the report has been given due acknowledgment and listed in the reference
section.

Abhishek Jain

Roll no. 2020982503

Date:

2
CERTIFICATE

3
 ACKNOWLEDGEMENT

I would like to express my sincere gratitude to CHITKARA BUSINESS SCHOOL and its
management to present us with an opportunity to undertake this project.

I pay my gratitude and sincere regards to DR. Ashok K Chitkara the Chancellor of our
prestigious university

I would like to take the opportunity to thank and express my deep sense of gratitude to my
faculty mentor Dr. Jasleen Kaur. I am really obligated to her for providing their valuable
guidance at all stages of the study, their advice, constructive suggestions, positive and
supportive attitude and continuous encouragement, without which it would have not been
possible to complete the project.

I am thankful to Mr. Amandeep Singh Rai (Regional Sales Head- ICICI BANK) for giving
me the opportunity to work with ICICI Bank and learn.

I owe my wholehearted thanks and appreciation to the entire staff of the bank for their
cooperation and assistance during the course of my project.

I hope that I can build upon the experience and knowledge that I have gained and make a
valuable contribution to this industry in the coming future.

Abhishek Jain

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 TO WHOMSOEVER IT MAY CONCERN

This is to certify that the project title “Study of micromarket and Leaveraging the digital
channel to enhance customer experience” carried out by Abhishek Jain, S/o Anil Jain has
been accomplished under my guidance & supervision as a daily registered MBA student of
Chitkara University. This project is being submitted by him in the partial fulfilment of the
requirements for the award of the Master of Business Administration from Chitkara
university.

His dissertation represents his original work and is worthy of consideration for the award of
the degree of Master of Business Administration.

Dr. Jasleen Kaur

Signature

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 Executive Summary

Private banking is a concept which is new and fast emerging within the world of banking
where changes became a necessity so as for banks to survive during this competitive
environment. the target of the research is to explore the varied products, which a private
banker deals into and therefore the systematic process involved to match client requirements
with the proper quite product

In accordance with the requirement of MBA course I had summer training project in Retail
Banking department of ICICI Bank on the subject "Leveraging Digital Channels for
Enhancing Consumer Experience, Analysis of products & services & retail working and
micro market study".

The retail banking environment has undergone major change. Retail banking customers are
far more active than they were a decade ago. Customers are demanding more customized
products and services. This has imposed significant new demands on retail banks. With a view
to attaining an increasingly significant position within the growing retail financial services
sector within the country, banks have continued to supply a sustained thrust to retail banking
through a continuously expanding network and a growing sales department with customer
relationship skills, that has enabled the distribution of a good range of products to a quick
expanding customer base.

ICICI started it in Aug 2002 and since then it's been an interesting success. Today there are
enormous solutions to cater client needs but what suits best to a client is where private banking
fits in. Every client will have different needs, liking and preferences. So a customized
portfolio for each client is that the need of the day.

The report gives an summary of the Retail banking products offered at ICICI Bank, the safety
measure of the bank, guidelines by RBI, Negotiable Instruments ACT, recently launched
government schemes, etc. and how they need changed or innovatively structured to be
attractive and competitive.

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 Index

PART 1

1. CHAPTER 1: Introduction………………………………........9-38

1.1 Overview of the industry…………………………………………….9

1.1.1 History of banking sector………………………………………..…9

1.1.2 Banking Sectors …………………………………………………..14

1.1.3 Govvenment Iniciatives ………………………………………….18

1.2 Company Profile

1.2.1 Introduction of ICICI………………………………………….….19

1.2.2 History of ICICI bank……………………………………………..22

1.2.3 Vision and Mission……………………………………………......22

1.2.4 Competitors……………………………………………………….24

1.2.5 Organisation structure…………………………………………….25

1.2.6 ICICI Subsidaires…………………………………………………30

1.2.7 Product and services ……………………………………………..34

1.2.8 SWOT Analysis…………………………………………………..38

PART 2
1. CHAPTER 1: Objective of The Study ……………………..40

1.1 Title of the project…………………………………………………..40

1.2 Objective of the study…………………………...………………….41

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2. CHAPTER 2: Research Methodology…………….……….42

2.1 Meaning of Reasearch……………………………………..………..42

2.2 Objective of study…………………………………………..……….42

2.3 Reseach Problem……………………………………………...……..43

2.4 Type of Research Design……………………………………………43

2.5 Data Collection Method…………………………………….....…….43

3. CHAPTER 3: Data Analysis…………………………….…..46-59

3.1 Market Analysis (Micro market)……………………………..……46

3.2 Area of study……………………………………………………….46

3.3 Customer satisfaction …………………………………………...…48

3.4 Parts of Customer Satisfaction……………………………...……...50

3.6 Oppurtunities for ICICI bank………………………………………56

3.6 Company efforts for cutomer services …………………………….57

3.7 Suggestions……………………………………………………...…59

4. CHAPTER 4: Conclusion and BibliographY

4.1 Conclusion……………………………………………………..….62

4.2 Bibliography……………………………………………………....63

ANNEXURE …………………………………………….…………..64

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 PART 1
CHAPTER 1

1. INTRODUCTION

1.1 Overview of the Industry

Banking industries

Bank could also be defined as a financial organization which is engaged within the
business of keeping money for savings and checking accounts or for exchange or for
issuing loans and credit etc. A set of services intended for personal customers and
characterized by a better quality than the services offered to retail customers.

Based on the notion of tailor-made services, it aims to supply advice on investment,

inheritance plans and supply active support for general transactions and therefore the
resolution of asset-related problems. The essential function of a bank is to supply services
associated with the storing of deposits and the extending of credit. Basic function may
include Credit collection,

The importance of banking sector is immense within the progress and prosperity of any
State or country. The economic progress and prosperity comes from the well-rounded
development and an impeccable banking management. Banks in general, governmental
and private, have eased our financial transactions, security, and facilitated the funding
for establishing a business or industry. Business banking system is that the industry in
business banking handling the different banking transactions which happen while
conducting a business. Business banking also can be mentioned as commercial banking.
Business banking industry deals with all the functions starting from transferring funds,
business loans, online business transactions etc.

9
Banks falling under the category of business banking system offer different charges and
rates for the different business banking services. One needs to check and compare the
charges offered by the different banks. One must understand that opening an account
under the business banking industry is significant together is predicted to take care of an
extended relationship with the bank offering business banking services. Many prefer to
bank with the same bank where one has the private checking account.

Whether the bank offering business banking services imposes fee for every single
transaction or a lump sum for a particular category of transaction. There are some banks
which impose fees for performing monetary transactions on behalf of the business
banking account holder. One needs to clarify the same. The business banking industry
also requires that the bank offering business banking services should have a local branch
situated in the city of the business banking account holder.

1.1.1 HISTORY OF BANKING INDUSTRY

Banking in India originated within the first decade of the 18th century with the general
Bank of India coming into existence in 1786. This was followed by the Bank of
Hindustan. Both these banks are now defunct. The oldest bank in existence in India is
that the state bank of India being established as "The Bank of Bengal" in Calcutta in June
1806. a few of decades later, foreign banks started their Calcutta operations within the
1850s. At that time in time, Calcutta was the foremost active trading port, mainly because
of the trade of British Empire, and because of which banking activity took roots there
and prospered. the primary fully Indian-owned bank was the Allahabad Bank, which was
established in 1865.

By the 1900s, the market expanded with the establishment of banks like Punjab national
bank, in 1895 in Lahore and Bank of India, in 1906, in Mumbai - both of which were
founded under private ownership. The reserve bank of India formally took on the
responsibility of regulating the Indian banking sector from 1935. After India's
independence in 1947, the reserve bank was nationalized and given broader powers.

At the top of the late-18th century, there was hardly any bank in India within the modern
sense of the term. At the time of the American war, a void was created because the supply
of cotton to Lancashire stopped from America . Some banks were opened at that point

10
which functioned as entities to finance industry, including speculative trades in cotton.
With large exposure to speculative ventures, most of the banks opened in India during
that period couldn't survive and failed. The depositors lost money and lost interest keep
deposits with banks. Subsequently, banking in India remained the exclusive domain of
Europeans for next several decades until the start of the 20th century.

The government's regular policy for Indian banks since 1969 has paid rich dividends with
the nationalization of 14 major private banks of India.

Not long ago, an account holder had to attend for hours at the bank counters for getting
a draft or for withdrawing his own money. Today, he features a choice. Gone are days
when the foremost efficient bank transferred money from one branch to a different in two
days. Now it's simple as instant messaging or dials a pizza. Money has become the order
of the day.

The first bank in India, though conservative, was established in 1786. From 1786 till
today, the journey of the Indian banking industry are often segregated into three distinct
phases. they're as mentioned below:

Early phase from 1786 to 1969 of Indian Banks

Nationalization of Indian Banks and up to 1991 before Indian banking sector Reforms.

A new phase of the Indian banking industry with the arrival of Indian Financial &
Banking Sector Reforms after 1991.

The first bank in India, though conservative, was established in 1786. From 1786 till
today, the journey of the Indian banking industry are often segregated into three distinct
phases. they're as mentioned below:

• PHASE I - Early phase from 1786 to 1969 of Indian Banks

• PHASE II - Nationalization of Indian Banks and up to 1991

• PHASE III - Indian Financial & Banking Sector Reforms after 1991.

Phases 1 (1786 to 1969)

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• 1786: the general bank of India was the primary Joint Stock Bank to be established
Next come bank of Hindustan bank and Bengal Bank.

• The East India Company established Bank of Bengal (1809), Bank of Bombay (1840),
and Bank of Madras (1843) as independent units and called it Presidency Banks.

• These three Banks were amalgamated in 1920 and Imperial bank of India was
established which started as a private bank.

• In 1863 Allahabad Bank was established and first time exclusively by Indians, Axis
BANK was found out in 1894 with headquarters at Lahore.

• Between 1906 to 1913, Bank of India, Bank of Baroda, central bank of India, Canara
Bank, Indian Bank, and Bank of Mysore were established.

• Reserve Bank of India came into existence in 1935. During phase 1 rate of growth was
very slow

• Banks also experienced periodic failures between 1913 and 1948.

• There were approximately 1100 banks, mostly small.

• The government of India came into the banking companies act,1949which was later
become the Banking Regulation act 1949 as per the amended act 1965(act no.23of 1965)

• Reserve bank of India was vested with extensive powers for the supervision of banking
in India because the Central Banking Authority.

Phase 2

• In 1955, the Imperial Bank of India with extensive banking facilities on an outsized
scale especially in rural and semi-urban areas.

• It formed the state bank of India to act because the principal agent of RBI.

• 7 Banks formed subsidiary of state bank of India was nationalized.

• It was the effort of the then Prime Minister of India, Mrs. Indra Gandhi.

• 14 major commercial banks within the country were nationalized.

12
• The branch of the general public sector bank India rose to approximately 800% in
deposit and advances took an enormous jump by 11000%.

Phase 3

• This phase introduced more new products and facilities within the banking sector in its
reform measure.

• In 1991 under the chairman of M. Narashima, a committee was found out by his name
which works for the liberalization of banking practices.

• The country is flooded with foreign bank and their ATM stations

• Efforts were being put to offer a satisfactory service to customers.

• Phone banking and net banking were introduced.

• The entire system became more convenient and swift

1.1.2 BANKING SECTOR IN INDIA:

As indicated by the reserve bank of India (RBI), managing an account division in India is
sound, satisfactorily capitalized, and all-around controlled. India is one among the most 10
economies globally, with huge potential for managing an account segment to develop. With
the likelihood to finish up the fifth biggest saving money industry on the earth by 2020 and
third-biggest by 2025. India's managing an account and facial segment is extending quickly.
The new standards of the reserve bank of India's (RBI) will give incentives to banks to identify
potentially terrible credits and make remedial strides which will check the acts of unreliable
borrowers.

Figure 1: TITLE: THE INDIAN BANKING SYSTEM

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Source: https://www.bing.com/images/search?q=indian%20banking%20system

1. CENTRAL BANK:

A national bank works as the pinnacle controlling establishment in managing an account and
money-related arrangement of the state. It works because the controller of credit, broker's
bank, and do appreciate the restraining infrastructure of issuing money for the advantage of
the administration. A national bank is usually control and regularly claimed, by the
administration of a nation. The reserve bank of India (RBI) is such a bank inside India.

2. SCHEDULE COMMERCIAL BANK:

It operates for profit. It accepts deposits from the general public and extends loans to
households, firms, and also the government. The essential characteristics of economic
banking are as follows:

• Acceptance of deposits from the general public.

• For lending or investment

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• Repayable on demand or lending or investment

• Withdrawal by means of an instrument, whether a cheque or otherwise

I. PUBLIC SECTOR BANKS:

Public Sector Banks (PSBs) are those banks where the bulk of stakes fi with the govt. of these
PSBs are listed on stock exchanges. Central Government entered the banking system with the
nationalization of Imperial Bank of India in 1955, then in 1969 14 major banks were
nationalized and in 1980 4 more banks were nationalized.

To Name a couple of PSBs: state bank of India and its subsidiaries, Bank of India, Bank of
Baroda, Bhartiya Mahila Bank, central bank of India, etc.

The objectives behind nationalization were:

• To break the ownership and control of banks by a couple of businesses

• To prevent the concentration of wealth and economic power,

• To mobilize savings from masses from all parts of the country,

• To cater to the requirements of the priority sectors

II. PRIVATE SECTOR BANKS:

Private Sector Banks in India are made from private and public banks. But the greater a part
of the stake is within the hand of private shareholders and not with the govt. Private Banks
are categorized as Old and New Private bank

Old Private banks: These are those banks that weren't nationalized during the method in 1969
and 1980 because of the smaller scale or regional reach only.

Example: thalami Bank, Federal Bank, ING Vysya Bank, Karur Vysya Bank, etc.

New Private Banks: These are the banks that came into operations afire the liberalization
within the 1990s. Banking Regulation was amended in 1993 in order that new private banks
can enter the Indian banking system.

15
Example: ICICI Bank, AXIS Bank, HDFC Bank, Yes Bank, Development Credit Bank,
Kotak Mahindra Bank, RBL Bank, etc.

But there have been certain criteria for the establishment of latest private banks which are as
follow: -

• Bank should have a minimum net worth of Rs 200 Cr.

• Proprotors should hold an iminium of 25% of paid-up capital

• Within 3 years of the starting of the operations, the bank should offer shares to the general
public, and their net worth rust increase to 300 Cr.

III. FOREIGN BANKS:

With globalization hitting the planet, the concept of banking has changed substantially. The
concept of Foreign Banks has changed the prevailing banking scenario in India. Banking is
now crore of crore customer-friendly, modern technology has been implemented like mobile
banking, mobile application of banks, etc.

Example: HSBC Bank, JP Morgan Chase Bank, Deutsche Bank, Standard Charter Bank, etc.

IV. REGIONAL RURAL BANKS:

Regional Rural Banks (RRBs) were started in 1970 since even afire the nationalization, there
have been cultural issues associated with lending to the farmers. The major purpose of RRBs
is to mobilize financial resources from rural-semi-urban areas and grants loans and advances
mostly to small and marginal farmers, agricultural laborers, etc.

Example: Karnataka Vikas Gardena Bank, Maharashtra Garmin Bank, etc.

3. SCHEDULE CO-OPERATIVE BANK:

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Larger visit unions are often called cooperative banks. Like credit unions, cooperative banks
are owned by their customers and follow the cooperative principle of 1 person, one vote.

Unlike credit unions, however, cooperative banks are often regulated under both banking and
cooperative legislation. they supply services like savings and loans to non-rerefers swell on
rerefers, and a few participate within the wholesale marketplace for hands, Money, and even
equities

I. URBAN CO-OPERATIVE BANKS:

Urban Co-operative Banks are giving banking facilities to grass-root persons. As Urban
Cooperative Banks are mostly working within the rural and semi-urban areas they understand
the real commercial needs of the local population in their area operation Urban Cooperative
Banks help small and medium-sized traders, entrepreneurs, artisans, and farmers who are
bereft of banking facilities because the private sector and commercial banks tap only status
and successful entrepreneurs

Example: Ahmedabad Mercantile Co-Op Bank, Burrata Mercantile Co-operative Bank,

Saraswat Co-operative Bank, etc.

II. RURAL CO-OPTATIVE BANKS:

The rural cooperatives are further divided into short-term and long-term structures. The short-
term cooperative banks are three tired operating in several states.

I) State Cooperative Banks-

II) Cooperative Banks-

III) Primary Agricultural Credit Societies-

The long-term structures are further divided into —

State Cooperative Agricultural and Rural Development Banks (SCARDS)- Primary

Cooperative Agricultural and Rural Development Banks (PCARDBS)

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1.1.3 GOVERNMENT INITIATIVES:

I) Pradhan Mantri Jan Dham Yojna: The scheme has been started with a target to supply
'universal access to banking facility starting with 'Basic Banking Accounts" with overdraft
facility of 15000 after six months and Rupays Debi card with inbuilt accident insurance cover
of 11 lakh and Rupay, Kisan Card

II) Pradhan Mantri Suraksha Bema Yojna: Accident Insurance Scheme offering accidental
death and disability protect death or disability due to an accident.

III) A 112/- every year premium are going to be deducted from the account holder’s savings
bank account through the ‘auto debit’ facility in one installment.

IV) In case of accidental death or full disability, payment of 200,000/- are going to be given
to the nominee and just in case of partial disability check of 1,00,000/- are going to be given

V) Pradhan Mantri Jeevan Jyoti Bind Yojna: may be a government-backed life assurance
scheme in India. This scheme are going to be linked to the bank accounts opened under the
Pradhan Mantri Jan Dham Yajna scheme.

VI) A premium of Rs 330/- every year are going to be deducted from the account holder’s
savings checking account through ‘auto-debit facility in one installment

VII) In case of death of the policyholder, in any case, the nominee will receive 2,00,000/-.

VIII) Banking is functioning specifically on the rules of the reserve bank of India. Out of all
the acts, the legal instrument Act is one among the foremost important acts for the running of
banking activities.

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 1.2 Company Profile

ICICI BANK

Type Private, BSE & NSE, NYSE

Founded 1955 (as Industrial credit and Investment corporation of India)

Headquarters Mumbai, India

Key people N Vaghul, K.V. Kamath, Chanda Kochhar,

V Vaidyanathan, Madhabi Puri

Industry 1. Banking and Insurance

2. Capital Markets and allied industries

Products Loans, Credit Cards, Savings,

Investment vehicles, Insurance etc.

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1.2.1 Introduction

ICICI Bank Limited is an Indian diversified financial services company headquartered

in Mumbai, Maharashtra. it's the second largest bank in India by assets and third largest
by market capitalisation. It offers a good range of banking products and financial services
to corporate and retail customers through a spread of delivery channels and thru its
specialized subsidiaries within the areas of investment banking, life and non-life
insurance, risk capital and asset management. ICICI Bank may be a leading private sector
bank in India. The Bank’s consolidated total assets stood at Rs. 14.76 trillion at
September 30, 2020. ICICI Bank currently features a network of 5,288 branches and
15,158 ATMs across India.

The bank has subsidiaries within the uk, Russia, and Canada; branches in us, Singapore,
Bahrain, Hong Kong, Sri Lanka, Qatar and Dubai International Finance Centre; and
representative offices in United Arab Emirates, China, South Africa, Bangladesh,
Thailand, Malaysia and Indonesia. The company's UK subsidiary has established
branches in Belgium and Germany.

ICICI Bank is India’s largest private sector bank in market capitalisation and second
largest overall in terms of assets. ICICI Bank currently features a network of 5,288
branches and 15,158 ATMs across India.
The industrial credit and investment corporation of India limited (ICICI) was
incorporated in 1955 at the initiative of International Bank for Reconstruction and
Development, the govt of India and representatives of Indian industry, with the target of
making a development financial organization for providing medium– term and long-
term project financing to Indian businesses. A.Ramaswami Mudaliar is elected because
the first chairman of ICICI Limited.

CHANDA KOCHHAR is currently director and CEO of ICICI Bank. Kochhar has also
consistently figured in fortune’s list of “Most Powerful Women in Business” since 2005.
KV Kamathwho has was awarded Padma Bhushan award from the Indian government
in 2008 is that the Non-Executive Chairman of the Bank.

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1.2.2 History of ICICI Bank

ICICI Bank was established in 1996 by the economic Credit and Investment Corporation
of India, an Indian financial organization as an entirely owned subsidiary. The parent
company was formed in 1955 as a joint-venture of the planet Bank, India's public-sector
banks and public-sector insurance companies to supply project financing to Indian
industry. The bank was initially referred to as the economic Credit and Investment
Corporation of India Bank, before it changed its name to the abbreviated ICICI Bank.
The parent company was later merged into ICICI Bank. ICICI Bank launched internet
banking operations in 1998.

ICICI's shareholding in ICICI Bank was reduced to 46 percent, through a public offering
of shares in India in 1998, followed by an equity offering within the sort of American
Depositary Receipts on the NYSE in 2000. ICICI Bank acquired the Bank of Madura
Limited in an all-stock deal in 2001, and sold additional stakes to institutional investors
during 2001-02.

In the 1990s, ICICI transformed its business from a development financial organization
offering only project finance to a diversified financial services group, offering a good
sort of products and services, both directly and thru variety of subsidiaries and affiliates
like ICICI Bank.

In 1999, ICICI become the primary Indian company and therefore the first bank or
financial organization from non-Japan Asia to be listed on the NYSE.

In 2000, ICICI Bank became the primary Indian bank to list on the ny stock market with
its five million American depository shares issue generating a requirement book 13 times
the offer size.

In October 2001, the Boards of Directors of ICICI and ICICI Bank approved the merger
of ICICI and two of its wholly owned retail finance subsidiaries, ICICI Personal
Financial Services Limited and ICICI Capital Services Limited, with ICICI Bank. The
merger was approved by shareholders of ICICI and ICICI Bank in January 2002, by the

21
supreme court of Gujarat at Ahmadabad in March 2002, and by the supreme court of
Judicature at Mumbai and therefore the Federal Reserve Bank of India in April 2002.

In 2008, following the 2008 financial crisis, customers rushed to ATM's and branches in
some locations thanks to rumors of adverse financial position of ICICI Bank. The Federal
Reserve Bank of India issued a clarification on the financial strength of ICICI Bank.

1.2.3 VISION AND MISSION OF ICICI BANK

VISION
• To ensure most cost effective power for sustained growth of India.
• To provide clean and green power for secured way forward for countrymen
• Constituent associates & stakeholders.
• To continuously upgrade & update knowledge & skill set of its human resources.
• To achieve excellence in every activity we undertake

MISSION
We will leverage our people, technology, speed and financial capital to:

• Expand the frontiers of our business globally.

• Play a proactive role within the full realization of India’s potential.
• Maintain high standards of governance and ethics.
• Create value for our stakeholders.
• To ensure most cost effective power for sustained growth of India.
• To provide clean and green power for secured way forward for countrymen.
• To achieve excellence in every activity we undertake

22
ICICI MILESTONES
• 1988: Promoted TDICI – India’s first risk capital company.

• 1996: ICICI Ltd became the primary company within the Indian financial sector to
boost GDR.

• 1999: ICICI becomes the primary Indian company to urge listed on the NYSE through
a problem of yank depository shares.

• 2000: ICICI BANK became the primary full service bank from India to urge its stock
listed on the NYSE.

1.2.4 TOP COMPETITORS OF ICICI BANK

COMPARISON

Company Employees Funding Revenue

130,170 $3.7B $20.1B

245,652 $3.4B $52.3B

120,093 $5.3B $14.1B

78,307 $6.8B $6B

71,000 $1.8B $7.7B

30,674 $925M $4.8B

23
1. SBI CAPITAL MARKETS LIMITED

Founded in August 1986, SBI Capital Markets Ltd (SBICAP) could be a wholly-owned
subsidiary and therefore the investment banking arm of the state bank of India (SBI), the
most important commercial bank within the country.

BICAP is that the country's largest domestic investment bank, offering the whole gamut
of investment banking and company advisory services. These services encompass Project
Advisory and Loan Syndication, Structured Debt Placement, Capital Markets, Mergers &
Acquisitions, Private Equity, and Stressed Assets Resolution. it's the only Indian member
of M&A

International Inc offers the unparalleled resources of over 600 professionals in 46 M&A
advisory and investment banking firms operating in 40 countries.

The company is headquartered in Mumbai with six regional offices across India.

2. HDFC BANK

Established in 1994, housing development Finance Corporation Ltd (HDFC) Bank is an

Indian financial services company based in Mumbai, Maharashtra. The bank is that the
first of its kind to receive in-principle approval from the reserve bank of India (RBI) for
the establishment of a bank within the private sector. The Bank transacts both traditional
commercial banking also as investment banking. the varied divisions of the bank include
retail banking, wholesale banking, and treasury operations.

24
 HDFC Bank currently includes a nationwide network of 4,751 Branches and 14,177
ATM's in Indian towns and cities and every one branches of the bank are linked on a web
real-time basis

3. AXIS BANK

Axis Bank is that the third-largest private sector bank in India. It offers the whole spectrum
of monetary services to customer segments, covering large and mid-corporates, MSME,
agriculture, and retail businesses.

As of March 31, 2021, the bank had an outsized footprint of 1947 domestic branches
(including extension counters) and 11,245 ATMs spread across the country. Axis Bank
also has overseas offices in Singapore, Hong Kong, Shanghai, Colombo, Dubai, and Abu
Dhabi.

Axis Bank is one among the primary new-generation private sector banks to possess begun
operations in 1994. The Bank was promoted in 1993, jointly by Specified Undertaking of
unit investment trust.

1.2.5 Organization structure of ICICI Bank

Organization structure divided into 5 parts

1. Retail banking.
2. Wholesale banking
3. Project finance and special assets management
4. International business
5. Corporate bank

25
1. Retail banking is banking during which banking institutions execute transactions
directly with consumers, instead of corporations or other banks. Services offered
include savings and transactional accounts, mortgages, personal loans, debit cards,
and credit cards.

2. Wholesale banking is that the provision of services by banks to the likes of Mortgage
Brokers, large corporate clients, mid-sized companies, land developers and investors,
international trade finance businesses, institutional customers (such as pension funds
and government entities/agencies), and services offered to other banks or other
financial institutions.

3. Project finance is that the medium- to long-term financing of infrastructure and

industrial projects based upon the projected cash flows of the project instead of the
balance sheets of the project sponsors.

Special assets management

1. The management of a client's investments by a financial services company,

usually an investment bank. the corporate will invest on behalf of its clients and
provides them access to a good range of traditional and alternative product
offerings that might not be to the typical investors.
2. An account at a financial organization that has checking services, credit cards,
debit cards, margin loans, the automated sweep of money balances into a market
fund, also as brokerage services.

4. An International Banking Facility (IBF) may be a separate account established

by a U.S. bank, or a US branch/subsidiary of a far off bank, or a foothold Act
Corporation within the us to supply services to only non-US residents and
institutions. The services offered include deposit and loan services. (Note, an IBF
isn't necessarily a separate legal entity.)

26
 5. One Corporate Centre is an office skyscraper in Pasig City, Metro Manila,
Philippines. it's the 13th-tallest building within the country and Metro Manila also
with a height of 202 meters (662.73 feet) from ground to tip of architectural antenna.
The building has 45 floors above ground including 7 floors for commercial purposes,
and 9 basement levels for parking.

1. PERSONAL BANKING
Table No. 1 Title: PRODUCTS AND SERVICES OF PERSONSAL BANKING

Loan Product Deposit Product Investment &

Insurance
• Auto loan • Savings A/C • Mutual Funds
• Loan against • Current A/C • Bonds
security • Fixed Deposits • Knowledge
• Loan against • Demat A/C Centre
property • Safe Deposit • Insurance
• Personal loan Lockers • General And
• Credit card Health Insurance
• 2- wheeler loan • Equity And
• Commercial Derivatives
vehicles finance • Mudra Gold Bar
• Home loans
• Retail business
banking
• Tractor loan
• Working capital
finance
• Construction
• Equipment
finance
• Health care
finance
• Education loan
• Gold loan
Cards Payment Services Access To Bank
• Credit Card • Net Safe • Net Banking
• Debit Card • Merchant • One View
• Prepaid Card • Prepaid Refill • InstaAlert
• Bill Pay Mobile Banking
----------------------------- • Visa Bill Pay • ATM
--Forex services • InstaPay • Phone Banking

27
---------------------------- • Direct Pay • Email
---- • VisaMoney • Statements
• Product And Transfers Branch
Services E-Monies Network
•
• Trade Services Electronic
• Forex Service • Funds Transfer
Branch Locater Online
• RBI Guidelines Payment Of
Direct Tax

2. WHOLESALE BANKING

Table No. 2 Title: PRODUCTS AND SERVICES OF WHOLESALE BANKING

Corporate Small and Medium Financial

Enterprises Institutions and
Trusts

• Funded Services • Funded BANKS

• Non Funded Services
Services • Non Funded • Clearing Sub-
• Value Added Services Membership
Services • Specialized • RTGS Sub-
• Internet Banking Services Membership
• Value Added • Fund Transfer
Services • ATM Tie- Ups
• Internet • Corporate
Banking Salary A/C
• Tax Collection

Financial Institutions

Mutual Funds

Stock Brockers

Insurance Companies

Commodities Business

Trusts

28
 3. NRI SERVICES
Table No. 3 Title: PRODUCTS AND SERVICES OF NRI SERVICES

Accounts & Deposits Remittances

• Rupee Saving A/C • North America

• Rupee Current A/C • Uk
• Rupee Fixed Deposits • Europe
• Foreign Currency Deposits • South East Asia
• Accounts For Returning • Middle East
Indians • Africa
• Others

Quick Remit
India Link
Check Lock Box
Telegraphic/ Wire
Transfer Fund
Transfer Cheques/Dds/Tcs

Investment & Insurances Loans

• Mutual Funds • Home Loans

• Insurance • Loans Against Securities
• Private Banking • Loans Against Deposits
• Portfolio Investment Scheme • Gold Card Credit

Payment Services Access To Bank

• Net Safe • Net Banking

• Bill Pay • One View
• InstaPay • InstaAlert
• DirectPay • ATM

29
 1.2.6 ICICI BANK SUBSIDARIES

Figure No. 2 Title: ICICI BANK SUBSIDAIRIES

Source: www.icicibank.com/aboutus/Annual-Reports/2019-20/index.html

ICICI VENTURE

ICICI Venture is the largest and one among the foremost successful private equity and venture
capital management companies in India with aggregate funds under management in more than

30
USD 2 billion. ICICI Venture may be a subsidiary of ICICI Bank, India’s second-largest bank
with total assets of about US$ 56.3 bn (March 31, 2006) and a market capitalisation of about
USD 10.8 bn (June 2006).

Over the years, ICICI Venture has built an enviable portfolio of companies within the sectors
of data technology, pharmaceuticals, biotechnology, media, and retail thereby delivering
value consistently to its investors.

ICICI Venture has the excellence of managing an outsized number of exits within the
Country. With over 100 liquidity events, the organization has reaped rich Experience and is
well-positioned to handle IPOs, strategic sales, and/or mergers.

ICICI Venture features a wide network of third-party investors, which include Domestic
investors like public sector banks, financial institutions, and Insurance companies. a big
portion of the fund’s corpus is additionally from International development financial
institutions and international funds.

ICICI SECURITIES – India’s Leading Investment Bank

ICICI Securities Limited is India’s leading full-service investment bank with a Dominant
position altogether segments of its operations - finance, Fixed Income, and Equities. it's a
subsidiary of ICICI Bank, the biggest private sector bank in India, and operates out of Mumbai
with offices in New Delhi, Chennai, Kolkata, New York, London, and Singapore. Under the
able leadership of Mr.S. Mukherji, director, and CEO, ICICI Securities continues to grow as
reflected in its performance over the past few years.

the company Finance team has consistently been among the highest players in M&As and
fundraising from domestic and international capital markets. The Equities team may be a
major Indian brokerage and its research covers over 90% of Sensex market capitalisation. The
bond research of the Fixed Income team may be a benchmark for the industry.

These activities include dealing in securities markets transactions within the us and providing
research and investment advice to US investors. ICICI Securities Inc. is additionally
registered with the Financial Services Authority, UK (FSA) and therefore the Monetary
Authority of Singapore (MAS) to hold out Corporate Advisory Services.

31
PRUDENTIAL ICICI

Prudential ICICI Asset Management Company enjoys the strong parentage of Prudential plc,
one among the UK's largest players within the insurance & fund management sectors, and
ICICI Bank, a well known and trusted name in financial services in India. Prudential ICICI
Asset Management Company, during a span of just over eight years, has forged an edge of
preeminence within the Indian open-end fund industry as one of the biggest asset management
companies within the country with assets under management of Rs. 23559.60 crores (as of
March 31, 2006). the corporate manages a comprehensive range of schemes to fulfill the
varying investment needs of its investors spread across 68 cities within the country.

PRUDENTIAL LIFE INSURANCE

India's favorite private life insurer, ICICI Prudential life assurance Company may be a venture
between ICICI Bank-one of India's foremost financial services companies-and Prudential plc-
a number one international financial services group headquartered within the UK. Total
capital infusion stands at Rs. 15.85 billion, with ICICI Bank holding a stake of 74% and
Prudential plc holding 26%. We began our operations in December 2000 after receiving
approval from the Insurance

Regulatory Development Authority (IRDA). Today, our nationwide team comprises nearly
120,000 insurance advisors, 18 bank assurance partners, and 200 corporate agent tie-ups.
ICICI Prudential was the primary life insurer in India to receive a National Insurer Financial

ICICI Prudential life assurance Company Limited was incorporated on 20th July 2000. The
authorized capital of the corporate is Rs.2300 million and therefore the paid-up capital is
Rs.1500 million. the company may be a venture of ICICI (74%) and UK-based company
Prudential Plc (26%).

The company recognizes that the drive for gaining sustainable competitive advantage during
this business is superior customer experience and investment behind the brand. the corporate
aims to attain this by striving to produce world-class service levels through constant
innovation in products, distribution channels, and technology-based delivery.

32
Vision and Mission

Their vision is to form ICICI Prudential life insurance Company the dominant new insurer
within the life insurance industry. This they hope to attain through their commitment to
excellence, concentrate on service, speed, and innovation, and leveraging our technological
expertise.

The success of the organization are going to be founded on its strong specialise in values and
clarity of purpose. These include:

• Understanding the requirements of consumers and offering them superior products and
repair

• Building long-lasting relationships with their partners

• Providing an enabling environment to foster growth and learning for his or her employees

And in particular building transparency altogether our dealings. They believe that they will
play a big role in redefining and reshaping the world. Given the standard of their parentage
and therefore the commitment of their team, they feel that there'll be no limits to their growth.

ICICI LOMBARD

ICICI Lombard General insurance firm Limited may be a 74:26 venture between ICICI Bank
Limited and therefore the US-based $ 26 billion Fairfax Financial Holdings Limited. ICICI
Bank is India's second-largest bank, while Fairfax Financial Holdings may be a diversified
financial corporate engaged generally insurance, reinsurance, insurance claims management,
and investment management. Lombard Canada Ltd, a gaggle company of Fairfax Financial
Holdings Limited, is one among Canada's oldest property and casualty insurers. ICICI
Lombard General insurance firm received regulatory approvals to commence general
insurance business in August 2001.

ICICI Lombard General insurance firm Limited may be a 74:26 venture between ICICI Bank
Limited and Canada-based Fairfax Financial Holdings Limited. ICICI Bank is India's second-
largest bank, while Fairfax Financial Holdings may be a diversified financial corporate
engaged generally insurance, reinsurance, insurance claims management, and investment

33
management. Lombard Canada Ltd, a gaggle company of Fairfax Financial Holdings Limited,
is one among Canada's oldest property and casualty insurers.

1.2.7 PRODUCTS AND SERVICES

1. ACCOUNT

ICICI Bank offers a good range of banking accounts like Current, Saving, Life Plus
Senior, Recurring Deposit, Young Stars, Salary Account etc. tailor-made for each
customer segments, from children to senior citizens. Convenience and ease to access are
the advantages of ICICI Bank accounts.

• YOUNG STARS ACCOUNT

A special portal for youngsters to find out banking basics, manage personal finances and
have tons of fun.

• SAVINGS ACCOUNT
Convenience is that the name of the sport with ICICI bank’s bank account. Whether it's
an ATM/debit card, easy withdrawal, easy loan options or internet banking, ICICI bank’s
saving account always keep you in-tuned of cash.

• FIXED DEPOSITES
ICICI Bank offers a variety of deposit solutions to satisfy varying needs at every stage
of life. It offers a variety of tenures and other features to suit all requirements.

2. INSURANCE

The ICICI group offers a variety of insurance products to hide varying needs starting
from life, pensions and health, to home, motor and travel insurance. The Products are
made accessible to customers through a good network of advisors, banking partners,

34
corporate agents and brokers with the added convenience of having the ability to shop
for online.

• LIFE INSURANCE
The ICICI group provides the various life assurance products through ICICI Prudential
life assurance Company.

• GENERAL INSURANCE
The ICICI group provides the various general insurance products like motor, travel and
residential insurance through ICICI Lombard General insurance firm.

3. LOANS

ICICI bank offers a variety of deposits solutions to satisfy varying needs at every stage
of life. It offers a variety of tenures and other features to suit all requirements.

HOME LOANS
The No. 1 Home Loans Provider within the country, ICICI Bank Home Loans offers
some unbeatable benefits to its customers - Doorstep Service, Simplified Documentation
and Guidance throughout the method. It’s really easy!

PERSONAL LOANS
ICICI Bank Personal Loans are easy to urge and absolutely hassle free. With minimum
documentation you'll now secure a loan for an amount up to Rs. 15 lakhs.

VEHICLE LOANS
Car loans
Network of quite 2500 channel partners in over 1000 locations. Tie-ups with all leading
automobile manufacturers to make sure the simplest deals. Flexible schemes &
Quick processing is that the main advantages are here.

Two wheelers loans

Finance facility up to 90% of the On Road Cost of the vehicle, repayable in convenient
repayment options and cozy tenors from 6 months to 36 months.

35
4. CARDS
ICICI Bank offers a spread of cards to suit different transactional needs. Its range
includes Credit Cards, Debit Cards and Prepaid cards. These cards provide you with
convenience for financial transactions like cash, withdrawal, shopping and travel. These
cards are widely accepted both in India and abroad.

• CREDIT CARD
ICICI Bank Credit Cards offer you the power of money, convenience and arrange of
advantages anywhere within the world. These benefits range from lifetime free cards,
Insurance benefits, global emergency assistance service, discounts, utility payments,
travel discounts and far more.

• DEBIT CARD
The ICICI Bank open-end credit may be a revolutionary sort of cash that allowscustomers
to access their checking account round the clock, around theworld. The ICICI Bank open-
end credit are often used for shopping at more than3.5 Lakh merchants in India and 24
million merchants worldwide.

• TRAVEL CARD
ICICI Bank Travel Card. the Hassel free thanks to travel the planet. Traveling with US
Dollar, Euro, British pound or Swiss Francs; trying to find security and convenience;
take ICICI Bank Travel Card. Issued in duplicate. Offers the Pin based security. Has the
convenience of usage of Credit or open-end credit.

5. INVESTMENT PRODUCTS
Along with Deposit products and Loan offerings, ICICI Bank assists you to manage yits
finances by providing various investment options starting from ICICI Bank Tax Saving
Bonds to Equity Investments through Initial Public Offers and Investment in Pure Gold.
ICIC IBank facilitates following investment products:

•Government of India Bonds

•Investment in Mutual Funds
•Initial Public Offers by Corporate
•Investment in "Pure Gold"

36
•Foreign Exchange Services
•Senior Citizens Savings Scheme

6. TRADE SERVICES: ICICI Bank offers online remittances also as online processing
of letters of credit and bank guarantees.

7. ASSET MANAGEMENT: Prudential ICICI Asset Management Company offers a

good range of retail open-end fund products tailored to suit varied risk and maturity
profiles.

8. CASH MANAGEMENT: ICICI Bank offers an entire Range of highly customized

solutions for managing both the collections and payments requirements of clients by
leveraging technology. Daily customized transactions reports and real time web-enabled
downloads, provide on-tap information facilitating effective capital management.

9. CORPORATE BANKING: ICICI Bank offers comprehensive and customised

financial solutions for its corporate clients, including rupee and foreign currency debts,
capital credit, structured financing syndication and transaction banking products and
services.

10. INTERNET BANKING: Internet banking is out there to all or any ICICI Bank
savings and time deposit account holders, mastercard, demat and loan customers. Internet
banking service offers customers a world of convenience with services like balance
enquiry, transaction history, account, bill payments, and fund transfers and accounts
related service requests.

11. ATMS: With quite 2500 ATMs across the country, ICICI Bank has one among the
most important ATM networks in India.

12. PHONE BANKING: Phone banking offers 24*7 services across Liability, asset and
investment products to both retail and company customers.

13. NRI-BANKING: A gamut of services to require care of all NRI banking needs
including deposits, money transfers and personal banking.

37
14. MONEY 2 INDIA: An entire range of online and offline money transfer solutions
to send money to India.

15. PROPERTY: For many home buyers across the country, ICICI Bank offers not just
great deals on home loans but also a wealth of expert advice. ICICI Bank offers home
search service which may help a customer identify the property of his choice supported
his budget and other requirements.

16. DEMAT ACCOUNTS: ICICI Bank’s demat services after unique features like e-
constructions, consolidation, digitally signed statements, mobile requests and company
benefit tracking.

17. RURAL BANKING: Bank offers technology-based solutions, financial innovations

and multiple delivery channels to satisfy the financial needs of rural areas.

1.2.8 SWOT ANALYSIS OF ICICI BANK

Introduction to SWOT analysis.

The overall evaluation of the company’s Strength, Weakness, Opportunities and Threats
is named as SWOT Analysis. The external environment analysis of any business will
offer you the opportunities and threats facing the business. The external environment
consists of two parts:

1) Macro Environment: Demographic, Economic, Technology, Political-legal, Socio-

cultural
2) Micro Environment: Customers, Competition, Distributors, Suppliers.
The Internal Environment Analysis will offer you the strength and weaknesses of the
business.

38
STRENTH

•Right strategy for the proper products.

• Superior customer service v/s competitors.

•Great Brand Image
•Products have required accreditations.
•High degree of customer satisfaction.
•Good place to figure

WEAKNESS

•Lower reaction time with efficient and effective service

•Some gaps in range surely sectors.

•Customer maintenance staff needs training.
•Processes and systems, etc.
•Management covers insufficient.

OPPORTUNITIES

•Profit margins are going to be good.

•Could reach overseas broadly.

•New specialist applications.
•Could seek better customer deals
• Fast – track career development opportunities on an industry – wide basis
.
THREATS

•Legislation could impact.

•Great risk involved

•Very high competition prevailing within the industry.
•Vulnerable to reactive attack by major competitors
•Lack of infrastructure in rural areas could constrain investment
•High volume/low cost market is extremely competitive.

39
 PART 2
CHAPTER 1

OBJECTIVE OF THE STUDY

1.1 TITLE OF THE STUDY:

The title for the is “Study of micromarket and Leaveraging the digital channel to
enhance customer experience”.

The report gives an overview of the Retail banking products offered at ICICI Bank, the
safety measure of the bank, guidelines by RBI, Negotiable Instruments ACT, recently
launched government schemes, etc. and how they need changed or innovatively
structured to be attractive and competitive.

The retail banking environment has undergone major change. Retail banking customers
are far more active than they were a decade ago. Customers are demanding more
customized products and services. This has imposed significant new demands on retail
banks. With a view to attaining an increasingly significant position within the growing
retail financial services sector within the country, banks have continued to supply a
sustained thrust to retail banking through a continuously expanding network and a
growing sales department with customer relationship skills, that has enabled the
distribution of a good range of products to a quick expanding customer base.

40
1.2 OBJECTIVE OF THE STUDY

Objectives are the ends that states specifically how goal be achieved. Every study must
have an objective that all the efforts are done. Without objective no research are often
conducted and no result are often obtained. On the idea of objective all the research
process is followed. Objectives are the most aspect of each study. the target of the study
gives direction to travel through the research problem. It guides the researcher and keeps
him on target. I even have two objectives regarding my scientific research. These are
shown below:

1. Primary objective
2. Secondary objective

1. Primary objective:
1) Analysis of the micro market to find the findings and suggest the bank for more
competitive advantage in the market

2) Leveraging Digital Channels for Enhancing Consumer Experience.

2. Secondary objective:

1) To determine the shortcomings in ICICI Bank.

2) To see whether ICICI Bank goes well or not in several areas.

41
 CHAPTER 2

RESEARCH METHODOLOGY

2.1 Meaning of Research:

Research is an art of scientific investigation. Research may be a systematized effort to realize

now knowledge. it's a careful investigation or inquiry especially through look for new facts
in any branch of data. Research comprises defining and redefining problems, formulating
hypothesis or suggested solutions.

The Research Methodology here includes:

• Objective of study
• Research Problem.
• Research Design.
• Data Collection method.
• Analysis and interpretation of knowledge

2.2 Objective of study

MARKET OBJECTIVE

1. To measure the level of satisfaction of the customer with the activities

associated with the ICICI Banks.
2. To Find out the opportunities for the ICICI Banks in the current situation.
3. To understand the behavior & trends of the individuals that what they want from
Banks post lockdown period.

42
2.3 Research Problem:
1. To study the area and micromarket and to indentify the financial needs of the people.

2. To understans the level of customer satisfaction by the products offered in retail banking
of ICICI Bank.

2.4 Types of Research Design

• Experimental Research Design

• Exploratory Research Design
• Descriptive& Diagnostic Research

• Exploratory research process and a structured questionnaire was developed for this
purpose. For the gathering of primary data, this was the sole method used. The
rationale I used this method is that a requirement was felt for the free influx of data
about the products.

2.5 DATA COLLECTION METHOD

Data Collection Techniques:

The process of data collection begins after an enquiry problem has been defined and therefore
the research design has been chalked out. There are two kinds of data –

PRIMARY DATA -

Primary data is collected by various approaches so on get particular, accurate, realistic, and
relevant data. the foremost tool in gathering primary data was investigation and observation.
during this research report primary sources are used.

43
SECONDARY DATA –

Secondary data is collected from existing sources in several organization brochures & records.

Here secondary method is used for collecting the data from differnet sources i.e Internet,
newspaper and magazines, websites & other previous studies. Secondary data from scholar to
satisfy the objectives, the study used qualitative research.

This project consists of two parts.

The first part may be a study of the banking system, ICICI Bank using secondary data sources.
This secondary information has been sourced from the web and from business-related
magazines and newspapers.

The second a part of the study has been done using an exploratory research process and a
structured questionnaire was developed for this purpose. For the gathering of primary data,
this was the sole method used. the rationale I used this method is that a requirement was felt
for the free influx of data about the products. Also, this method allowed the utilization of
skills gained in school.

Sample Design:

The population considered for the aim of the survey was people residing in Kaithal(Haryana)
and to understand the level of satisfaction, product awareness and the financial needs to the
people.

Sampling Technique Used:

Since the knowledge required wasn't of a really technical nature and also watching the scope
of the project and therefore the extent of the target segment, the sampling technique employed
was Convenience Sampling. I administered the questionnaires.

Sample Size:

44
I have restricted the sample size to 50 respondents. This was done keeping in mind the time
constraints and therefore the incontrovertible fact that I felt that this number would be enough
to serve the data needs required to point out the trends.

Type of Data Utilized in The Study

In this study both primary and secondary data are taken. For study of market and customer
satisfaction primary data is used and secondary data is used for the products offerd in Retail
banking by ICICI Bank.

The required data for the study are basically secondary in nature and therefore the data are
collected from

INTERNET – which incorporates required financial data collected form ICICI Bank’s
official website i.e www.icici.com and a few other websites on the web for the aim of getting
all the specified financial data of the bank and to urge detailed knowledge about ICICI Bank
for the convenience of study.

Brouchers of ICICI Bank.

The valuable cooperation extended by staff members and therefore the branch manager of
ICICI bank, dharmshala contributed tons to satisfy the wants within the collection of
knowledge so as to finish the project.

45
 CHAPTER 3
DATA ANALYSIS AND INTERPRETATION

MARKET ANALYSIS
3.1 WHAT IS MICRO MARKET STRATEGY

Micro market strategy is about acknowledging the uniqueness of each market and providing
enablers to increase the market share in each micro-market profitably. A micro market
strategy is an approach to advertising that tends to target a specific group of people in a niche
market. With a micro-market strategy, products or services are marketed directly to a
targeted group of customers.
A micro market strategy is an advertising strategy that allows a corporation to target a niche
group with a particular product or service. With micro-market strategy, a company defines
an audience by a specific trait, such as gender or job title, or age range, and then creates
campaigns geared toward that specific group. A company's ultimate goal in micro market
strategy is to communicate to a targeted group of consumers and get them to take action,
such as buying a good or service.

3.2 AREA UNDER THE STUDY

Kaithal District is one among 21 Districts of Haryana State, India. It is Located 129 KM
North towards State capital Chandigarh.
Kaithal district is situated in the North- West of the state. Its North-West
boundaries which include Guhla- Cheeka is attached to Punjab State. It has
Kurukshetra in North. Kaithal is attached to Jind in South and to Karnal in East.

46
Kaithal district is somewhat compact shaped having geographical area of
2,317.00 sq. kms. (containing 104.30 sq. kms of urban area and 2212.70 sq. kms
of rural area) which makes 5.24 percent of the State area.

Its total population according to 2011 census is 10,83,211, 80.61% population reside in
villages whereas 19.39% population reside in cities. There are 277 villages and 283
Punchayats in Kaithal districts. Kaithal district consists of three sub-divisions (Kaithal,
Kalayat & Guhla) four tehsils (Kaithal, Guhla, Kalayat & Pundri) and three sub-tehsils
(Rajound, Dhand and Siwan).

DEMOGRAPHIC DETAILS

As of the 2011 Indian Census, Kaithal city had a total population of 144,915, of
which 76,794 were males and 68,121 were females.

The total number of literates in Kaithal was 100,944. Kaithal had 28547
households in 2011.

Figure No.3 TITLE: Location (Kaithal City) Haryana

47
Source: https://kaithal.gov.in/about-district/map-of-district/

3.3 Customer Satisfaction:

Customer satisfaction is like ensuring that product and service performance meets customer
expectations. it's the perception of the customer that the result of a business transaction is up
to or greater than his/her expectation. Customer satisfaction occurs when the acquisition of
products and /or services provides a minimum negative departure from expectations in
comparison with other acquisitions and when the utility of a transaction is up to or greater
than preceding acquisitions.
Customer satisfaction occurs when the perception of the reward from the purchase of
products or services by the customer meets or exceeds his/her perceived sacrifice. The
perception may be a consequence of matching past purchase and consumption experience
with the present purchase.

Customer Service and Satisfaction:

When we mention customer service and/or satisfaction, we mention creativity. Creativity
allows us to handle or diffuse problems at hand or afterward rather within the process of
conducting the everyday business. We mention how, or what, does the organization need to
do to realize not only the sale but also the loyalty of the customer. we would like to
understand the payoff of the transaction both within the short and future. we would like to
understand what our customers Want? we would like to understand if our customers are
satisfied. Satisfaction, Of course, means what we delivered to a customer met the customer’s
Approval. we would like to understand if customers are delighted and willing to return

• Employees must adhere to a rigid chain of command

• Employees are closely supervised
• Conflict in whatever form is not allowed
• Rewards are based on carrot-and-stick principles
• Wrong objectives are measure.

48
We must understand customer expectation levels concerning quality. We must also
understand the strategy for customer service quality, and next we must understand the
measurement and feedback cycles of Customer satisfaction.
The customer is that the person or unit receiving the output of a process on the system. In
fact, it's worth emphasizing that a customer are often the immediate, intermediate, or
ultimate customer.
Also, a customer could also be an individual or persons, or a process or processes. Customer
satisfaction, however, is when the customer is satisfied with a product/service that meets the
customer’s needs, wants, and expectations.
There are a minimum of three levels of customer expectations about quality:

Level 1. Expectations are very simple and take the shape of assumptions, must have, or take
it without any consideration for instance, I expect the airline to be ready to begin, fly to my
destination, and land safely. I expect to urge the right blood for my transfusion and that i
expect the bank to deposit my money to my account and to stay an accurate tally on behalf
of me.

Level 2. Expectations are a step above that of level 1 and that they require some sort of
satisfaction through meeting the wants and/or specifications. for instance, I expect to be
treated courteously by all airline personnel. I visited the hospital expecting to possess my
hernia repaired, to be in some pain after it had been done, to be out on an equivalent day,
and to receive an accurate bill. and that i visited the bank expecting the bank teller to be
friendly, informative, and helpful with my transactions.

Level 3. Expectations are much more than for levels 1 and a couple of Level 3 requires some
quite delightfulness or a service that's so good that it attracts me to that. for instance, an
airline gives passengers traveling coach class an equivalent superior food service that other
airlines provide just for first-class passengers. In fact, I once took a flight where the flight
attendants actually baked cookies for us right there on the plane. when I visited the hospital,
I expected staff to treat me with respect and that they carefully explained things to me. But
i used to be surprised once they called me reception subsequent day to seek out out how i
used to be doing. And at my house closing, the bank officer, representing the bank holding
my mortgage, not only treated me with respect and answered all my questions on my new
mortgage, but just before we shook hands to shut the deal, he gave me a housewarming gift.

49
Customer satisfaction surveys help to:

1. Improve customer, client, or employee loyalty.

2. React quickly to changes within the market.
3. Identify and capitalize on opportunities.
4. Beat the competition.
5. Retain or gain market share.
6. Increase revenue.
7. Reduce costs.

3.4 There is three important part of customer’s satisfaction in the bank.

• Safety and Security

• Service’s Satisfaction
• Internet Banking’s Satisfaction

50
3.4.1 Safety and Security

Figure No.4 TITLE: Safety and security bar chart

Out of 50, 36 people said that Safety and Security are good in ICICI. 11 for
Excellent, 2 for average, 1 for poor, and none of said very poor safety and security
in ICICI Bank

3.4.2 Figure No.5 TITLE: Service satisfaction bar chart

51
 Out of 50, 21 people said that Service’s Satisfaction is good in ICICI.
17 for Excellent, 9 for average, 3 for poor, and none of said very poor
safety and security in ICICI Bank.

3.4.3 Figure No.5 TITLE: Internet Banking’s Satisfaction

In the Internet Banking’s Satisfaction, 25 people said that it is excellent. 19 said

that it’s good, 3 said that it’s average, 1 for poor and 2 for very poor experience
about Internet Banking in ICICI Bank.

52
Figure No.6 TITLE:The overall satisfaction percentages of customers

According to the survey, 51% of people said that ICICI gives them a good
satisfaction experience. 36% said it is an excellent experience, 9% of them said
that it is average, 3% of them said that it is poor and 1% of people of sample told
that it is a very poor experience.

53
WHAT CUSTOMER WANT FROM ICICI BANK AFTER
LOCKDOWN?

• The customer’s mindset is changed after lockdown. They are insecure

about their financial situations. So, what ICICI can do for attracting new
customers and make existing customers happy?

• In the survey, there are few questions about interest rates and what
customer wants to change in ICICI bank.

• Here is the graph of both of them,

Figure No.7 TITLE: Customer survey of Interset Rates

• 46% of people said that interest rates are average in ICICI bank. 38% of
them said that it is good. 12% of them said that it is poor and 4% of them
said that interest rates are excellent in ICICI bank.

54
Now, which of the things the customer wants to change in ICICI
after the lockdown?

Here is the graph of that,

Figure No.8 TITLE: Customer expectation from ICICI Bank

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 3.5 OPPORTUNITIES FOR ICICI

In the ICICI, customers prefer different types of products like saving a/c, current a/c, different
types of loans, and international banking.

The survey gives a better view of what types of products customers prefer most.
I took few questions about product preferences.

Figure No.9 TITLE: Customer Response on bet ICICI products

In the survey, most of the customers prefer saving a/c. 19 customers out of 50 said
that saving account is the best product in ICICI Bank. 13 of them said personal
loan, 13 of them said current account, 4 of them said international banking, and
only one of them said home loan.

Figure No.10 TITLE: Products that are lacking behind.

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 • Some of the ICICI Bank’s products are not preferable to the customer.
• Home loan, Corporate loan, and International Banking are the least liking
products for the customer in the Kaithal area.

• 22 people said ICICI lacking in the home loan, 18 said corporate loan,
and 7 of them said International Banking.

3.6 Company’s Effort to Make Sure Satisfaction of Customers:

Objectives of ICICI Bank

• Promote good and fair banking practices by setting minimum standards in handling
you
• Increase transparency in order that you'll have a far better understanding of what you'll
reasonably expect of the services;
• Encourage economic process, through competition, to attain higher operating
standards;
• Promote a good and cordial relationship between you and your bank;

57
Banking industry to Help You to know How Our Financial Products and Services Work By:

1. Giving you information about them in anybody or more of the subsequent languages:
2. Hindi, English, or the acceptable local language.
3. Ensuring that our advertising and promotional literature is obvious and not misleading
Ensuring that you simply are given clear information about our products and services,
the terms and conditions, and therefore the interest rates/service charges, which apply
to them.

Giving you information on what are the advantages to you, how you'll avail of the advantages,
what are their financial implications and whom you'll contact for addressing your queries.

To Help you employ Your Account or Service by:

• Providing you regular appropriate updates.

• Keeping you informed about changes within the interest rates, charges or terms, and
condition

Information: You can get information on interest rates, common fees, and charges through
anybody of the following and watching the notices in our branches; Phoning our branches or
help-lines; depending on our website; Asking our designated staff/help desk; pertaining to the
service guide/Tariff Schedule.

Before You Become a Customer we will:

Offer the clear information explaining the key features of the services and products you tell
us you're interested in; offer you information on any sort of products and services which we
provide which may fit your needs; tell you if we provide products and services in additional
than a method [for example, through ATMs, on the web , over the phone, in branches then
on] and tell you ways to seek out out more about them; tell you what information we'd like
from you to prove your identity and address, for us to suits legal, regulatory and internal policy
requirement.

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3.7 SUGGESTIONS AND FINDINGS

FINDINGS – It had been found that the majority of the general public sector banks
scored high on the continuity forces and comparatively low on the change forces.
Most of the private-sector banks studied scored high on continuity and also high on
change forces making them more competitive.

The whole project focuses on how it's affected retail banking, How it's affecting and
the way IT are often helpful for a bank to differentiate itself from its competitor and
increase productivity, improve brand image and customer satisfaction in future.

Customer Perception: Customers are quite satisfied from the banking services
but they're now expecting the banks to be proactive so as to bring benefit for the
purchasers from technology innovation. As we analyzed that the majority of the
purchasers use ATMs machines more frequently than the other delivery channels,
so, they expect ATM machines should be multitasking. Customers also expect more
autonomy in internet banking like online profile update (Contact Number, E-Mail
ID, Address etc.). They also seek more security as many spam mailers try to urge
password from fake mail by claiming, they're bank employees. Customer also
complained about employees’ knowledge in banking products and services as they
often fail to deal with customer query mainly in branch banking. So there should be
proper e-learning portal for workers in order that they will keep their knowledge
about products and services up so far.

Employee Perception: during a competitive technology driven world, they

believe that banks must deliver consistent with customer convenience. Product
should be for the proper customer, at the proper place and at the proper time. They
also accept that social media is playing vital role in selection choice of a customer.
So, visibility of a bank on social media can certainly increase customer satisfaction.

59
• For the Home Loan market in Kaithal, ICICI can make a fast process for good
results and also put the interest rate a little below than dominant bank’s interest
rates. More benefits, like low EMIs, early loan pay benefits, etc.

• Agriculture/ Business Loan is a very important product in Kaithal. Because there

is a good number of Agriculture business across the city. So, ICICI can negotiate
with companies for the loan and offer a good number of benefits and win their
trust. Also, give more importance to newcomers in the market because it will help
the bank in long term.

• For International Banking, ICICI can give more international debit and credit card
benefits. Also, offer good deals on foreign currency exchange. Shopping
vouchers, Hotel deals, flight booking benefits, etc. will attract the NRI more.
NRIs can put their money in fixed deposits for such a long time; ICICI can give
some benefits in FDs also. Generally, NRIs like the door-todoor service, ICICI
can give priority to this also

• The area in which the research is undertaken, the banks which are the major
business holder of the area is known through research.

• Knowing the market information of that ares such as demographic Local market
indicators of the area The profiling of the company and the bank branches near
me

60
 CHAPTER 4

4.1 CONCLUSION

o Thus, ICICI has been ready to use technology to produce value-added service to its
customers during the previous couple of years. For ICICI, technology is an integral a
part of their business. However, their overall progress could are smoother except for
certain internal and extraneous factors and also a pressure on spreads because of a
competitive market.

o E-banking has become a necessary survival weapon and is fundamentally changing

the banking system worldwide. Today, the press of the mouse offers customers
banking services at a way lower cost and also empowers them with unprecedented
freedom in choosing vendors for his or her financial service needs. No country today
features a choice- whether to implement E-banking or not given the worldwide and
competitive nature of the economy.

o ICICI has got to upgrade and constantly consider new innovative customized
packages and services to stay competitive. The invasion of banking by technology has
created an modern era and commoditization of banking services. ICICI has come to
understand that survival within the new e-economy depends on delivering some or all
of its banking services on the web while continuing to support its traditional
infrastructure.

o The increase of E-banking is redefining business relationships and therefore the most
successful banks are going to be people who can truly strengthen their relationship
with their customers. with none doubt, the international scope of E-banking provides

61
 new growth perspectives and Internet business may be a catalyst for brand spanking
new technologies and new business processes.

o Though the bank has been successful in increasing it’s deposits but to further improve
upon such situation it can introduce some new and attractive schemes for public. Such
schemes are often within the sort of higher rate of interest and shorter maturity period
for FD’s etc.

o The bank should simplify the procedure of advances for quick disbursement.

o Bank also can think for improving it’s day-to -day service to its clients. Such service
are often improved by providing prompt service and showing an attitude of co-
operation to its clients. it'll help to offer a sort of confidence to the general public and
build a far better public image.

o To achieve organizational success a correct independent working atmosphere should

be developed to realize desired objective more effectively.

o To achieve the target of Rural development it should open more and more branches
in several rural areas of the country. it'll facilitate in providing help to rural poor
farmers and other living below the poverty level. Bank can appoint commission agents
for various area who can encourage general public to take a position within the capital
of the bank and make more deposits in ICICI Bank.

o In the conclusion, I would like to say that ICICI is a big brand in the banking sector
in India and it was an honor for me to do an internship with ICICI.

o Getting an internship at ICICI Bank showed me the difference between learning in

theory and practice. The experience from this internship will surely help me in my
future professional life

62
 4.2 BIBLIOGRAPHY
Websites:

• ICICI Bank Annual Reports:

http://www.icicibank.com/aboutus/annual.page

• RBI Retail Banking:

http://www.rbi.org.in/scripts/BS_SpeechesView.aspx?Id=198

• Research Papers:
http://www.emeraldinsight.com/journals.htm?articleid=17043956

Online Banking Security: http://www.fca.org.uk/news/the-fca-and-the-

future-of-retailbanking

Retail Banking Trends: http://thefinancialbrand.com/36367/2014-top-bank-trends-

predictionsforecast-digital-disruption/

Efficiency, Profitability and Quality of Banking Services

https://mycommunity.leveragesoftware.com/blog_post_view.aspx?BlogPost
ID=d61a6d8b0885 4e4f9eaa7063472b160e

Operational Excellence in Retail Banking :

http://www.bcgindia.com/documents/file72591.pdf

Books Refrences

• Future of Retail Banking (5 Year Vision) By Philip Farah, Cisco) 2010-11

• Transforming Retail Banking Process), The BCG Report, December 2004

• Retail Banking and Customer Behavior by Ahmad Jamal 2004, Cardiff

Business School, UK

63
 ANNEXTURE

Dear SIR/MADAM, I am conducting survey on ICICI. I shall be very thankful to give your
few minutes to me for answering my few questions below.

Personal Information

Name: ______________________________
Contact no: ___________________________

Age Group *

11 - 20 Years
21 - 30 Years
31 - 40 Years
41 - 50 Years
50+ Years

1. Which of The Following Attributes Compelled You Most to bank?

(a) ATM Cum DEBIT Cards

(b) Cheque Book
(c) Internet Banking/ Phone Banking
(d) Working Hours
(e) Value Added Services

2. Which Type of Service Prefers The Most By you?

(a) Atm Service

(b) Internet Banking
(c) Mobile Banking
(d) Core Banking

64
 (e) Retail Banking

3. Which of following banks do you have account?

(a) ICICI Bank

(b) SBI Bank
(c) HDFC BANK
(d) Axis Bank
(e) Others please specify____________

4. What Type of Account Do You Have In Bank?

1. Saving
2. Current
3. Fixed
4. NRI
5. Others Please specify ______________

5. How many services offered by your banks?

1. D-Mat A/C
2. Mutual Funds
3. e-Instructions
4. LI & GI
5. Digitally Signed Statement

6. How would you know about these services?

1. Advertisements
2. Friends and Relatives
3. Direct Selling Agents
4. Others Please specify _______________

7. What the people think about the Banks?

1. Necessity for protection security

2. Imposition of a burden of expenses

65
 3. A compulsory tool for Saving

4. Others Please specify ______________

8. What a respondent see in purchase of new plan from Banks?

1. Standing and goodwill of the company

2. Product range of the company
3. Advertisement being released by the company
4. Services being given by the company

9. Is ICICI Bank Provide better facilities than SBI & HDFC Bank?

1. Yes
2. No
3. Can`t Say

10. Do you know what type of value added services provide by ICICI BANKS?

1. (a)-Young star
2. (b)-Senior citizen
3. (c)-Pre paid card
4. (d)-Recurring deposits
5. (e)-other

11. How would you rate product offered ICICI Bank than other?

Low 1 – 2 – 3 – 4 – 5 High

12. How would you rate product service / product vs. cost by ICICI Bank?

Low 1- 2 -3 -4 -5 High

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13. How would you divide 100 points on the basis of service provide by ICICI Bank?

1. Saving
2. Current
3. Fixed
4. NRI
5. Others Please specify _______________

About Product & Services

Please rate these attribute of your bank *

Highly Unsatisfied Satisfied Neutral Satisfied Highly Sat

Quality of
Service

Technology
Used

Customer
Support

Products
(Cards /

67